Industry
Aon plc and Marsh Inc. held a combined total of 23% of the world’s commercial non-life insurance broking market in 2013 and the top 150 brokers worldwide accounted for nearly 60% of total commercial property & casualty brokerage revenue, Finaccord Ltd. announced in a recent report. Finaccord, a London-based market research and consulting firm, released […]
By Canadian Underwriter | October 20, 2014
3 min read
Hub International Limited announced Monday that Hub International Atlantic Ltd., based in New Brunswick, has acquired a book of auto dealer business from independent broker Alliance Assurance Inc. Terms of the acquisition were not disclosed. Rolf Spangenberg, a producer from Grand Falls, N.B.-based Alliance, with experience in the region’s commercial insurance market, will help expand Hub […]
1 min read
Surveyed risk managers in Europe report low satisfaction with the level of mitigation for six of the Top 10 risks “that keep their CEO awake at night,” note findings from a new survey released Monday by the Federation of European Risk Management Associations (FERMA). These risks are political – government intervention, legal and regulatory changes; compliance with […]
LONDON – In a draft document, the World Health Organization has acknowledged that it botched attempts to stop the now-spiraling Ebola outbreak in West Africa, blaming factors including incompetent staff and a lack of information. In the document obtained by The Associated Press, the agency wrote that experts should have realized that traditional infectious disease […]
By Canadian Underwriter | October 17, 2014
4 min read
Hamilton, Bermuda-based Till Capital Ltd. recently announced it has signed agreements to acquire Toronto-based Omega Insurance Holdings Inc. Till originally announced in late July that it had entered into a letter of intent with Omega and its shareholders. Then on Oct. 14 Till said it “will pay an aggregate purchase price of 1.2 times book value,” […]
2 min read
Using the over supply of capital entering the insurance market to cover new and emerging risks, including in developed markets, will be key to staying competitive in the current challenging pricing environment, according to Lloyd’s of London executives. Relationships remain crucial for the Lloyd’s market, but its coverholders, brokers and underwriters must continue to innovate […]
EssOR Insurance, Pratte Morrissette Inc., and Assuraction Inc. have signed an agreement in principle to create a new insurance brokerage entity called EGR. The new company, which will specialize in risk management, insurance and surety bonds, will group together insurance brokerage services for medium and large businesses, including specialized lines, according to a joint statement […]
NEW YORK – Individual Americans, rich or not, donated generously in response to many recent international disasters, including the 2010 earthquake in Haiti and last year’s Typhoon Haiyan in the Philippines. The response to the Ebola epidemic is far less robust, and experts are wondering why. There have been some huge gifts from American billionaires […]
By Canadian Underwriter | October 16, 2014
TORONTO – Ontario’s Liberal government insists it can meet a two-year target to cut auto insurance rates even though they’re behind schedule. The government promised to bring the rates down by an average of 15 per cent across the province by August 2015, pledging to meet an eight-per-cent target in the first year. Finance Minister […]
By The Canadian Press | October 16, 2014
Nearly nine in 10 respondents to a recent consumer survey reported that the risk of getting into a vehicle collision due to distracted driving is either a “major “concern” or “somewhat of a concern,” while nearly two in three say they store food, water and flashlights in case of a disaster, according to the second […]
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